Highest Yielding CD Rates for Ashburn, VA

Includes Online Banks, Local Banks and Credit Unions / Updated January 27, 2023

All rates listed are Annual Percentage Yield (APY).


 

12-Month Rates

  • 4.85% 1-Year CD - $1,000

    | September 20, 2022 |

    Quite pleased with this one so far. Rate is consistently above anything else. I am just hoping they continue to be in the top tier of competitiveness! More Reviews

  • 4.85% Online Rate
    1-Year CD - $2,500
  • 4.76% Online Rate
    Online One Year CD - $5,000

    | September 26, 2022 |

    talked with 3 people with Connexxus...3 different stories on how to open CD..even with the "shared branchs"... this company is a nightmare! More Reviews

  • 4.76% Online Rate
    13 Month CD - $5,000

    13-Month CD

    | December 12, 2022 |

    Great rate, easily application process. It is the only rate as of today that beats a 13-month Treas so makes sense for anyone like me in Florida or another 0 state tax. More Reviews

  • 4.75% Online Rate
    12-Month CD - $500

    | January 8, 2023 |

    I live in the Baltimore area. CFG is a local Maryland-only bank. It has been heavily covered in local media that they are the leading Maryland bankers for the cannabis industry here. Some will view that p... More Reviews

  • 4.75% Online Rate
    1-Year CD - $1,000

    Early Withdrawal Penalty is 180 days interest.

  • 4.75% Online Rate
    One Year CD - $10,000

    Early Withdrawal Penalty is 270 days interest.

  • 4.65% Bank with nearby branch - View
    1-Year CD - $25,000

    | January 8, 2022 |

    This is misleading to list this on this site. The account cannot be easily opened online. Wouldn't mess with it unless I were playing with millions anyway. And, then I wouldn't mess with it because who kno... More Reviews

  • 4.60% Online Rate
    1-Year CD - $1,000

    | June 21, 2021 |

    This account is great. Had first opened an online savings account and then I locked into the 18-month No Penalty CD. While interest is still lost if you get out before a quarterly payment date, it provides... More Reviews

  • 4.52% Bank with nearby branch - View
    12 Month Online CD - $500

18-Month Rates

  • 4.92% Online Rate
    18-Month CD - $2,500
  • 4.75% Online Rate
    18-Month CD - $500

    | January 8, 2023 |

    I live in the Baltimore area. CFG is a local Maryland-only bank. It has been heavily covered in local media that they are the leading Maryland bankers for the cannabis industry here. Some will view that p... More Reviews

  • 4.75% Bank with nearby branch - View
    18-Month CD - $1,000
  • 4.65% Online Rate
    18-Month CD - $1,000

    Early Withdrawal Penalty is 180 days.

  • 4.65% Online Rate
    18-Month - $10,000

    Early Withdrawal Penalty is 270 days interest.

  • 4.55% Online Rate
    18-Month CD - $25,000

    Warning: Early Withdrawal Penalty is 2% of the account balance.

  • 4.50% Credit Union with nearby branch - View
    18 MONTH - $500
  • 4.50% Online Rate
    18 Month CD - $2,000

    | October 20, 2022 |

    I have been banking with Synchrony for 7 years and am still amazed at how little they know about Banking 101! The eternal hold button works though! Will send letters looking for paperwork that was submitte... More Reviews

  • 4.40% Online Rate
    18-Month CD - $500

    | December 7, 2021 |

    I've been unable to log on all evening because of the AWS outage. Also, I waited on hold for over 1 hour before giving up. Unable to get access to my money and disappointed by the AWS reliance with no re... More Reviews

  • 4.37% Online Rate
    18 Month Online CD - $100,000

24-Month Rates

36-Month Rates

  • 4.60% Online Rate
    36 Month Online CD - $500

    | January 8, 2023 |

    I live in the Baltimore area. CFG is a local Maryland-only bank. It has been heavily covered in local media that they are the leading Maryland bankers for the cannabis industry here. Some will view that p... More Reviews

  • 4.60% Online Rate
    36 Month CD - $10,000

    Early Withdrawal Penalty is 365 days interest.

  • 4.52% Credit Union with nearby branch - View
    3-year term - $500
  • 4.51% Bank with nearby branch - View
    36 Month Online CD - $500
  • 4.50% Online Rate
    36 Month Online CD - $500

    | July 18, 2022 |

    And how is this an online bank if they are inundating me with invitations to a customer appreciation free movie showing in some remote location in Utah? More Reviews

  • 4.50% Online Rate
    36-Month Premium Certificate - $501
  • 4.50% Bank with nearby branch - View
    3-Year Special - $1,000

    | December 12, 2022 |

    Great rate, easily application process. It is the only rate as of today that beats a 13-month Treas so makes sense for anyone like me in Florida or another 0 state tax. More Reviews

  • 4.50% Online Rate
    3-Year CD - $1,500

    Early withdrawal penalty is 180 days interest.

    | December 17, 2022 |

    Some serious amateur hour here. I have a small savings account that is connected to numerous external accounts. I thought I would throw a little into a 5-year CD because it is the top rate on this site, ... More Reviews

  • 4.44% Online Rate
    3-Year CD - $1,000

    Early Withdrawal Penalty is 360 days interest.

  • 4.40% Online Rate
    36-Month CD - $2,500

    | January 7, 2023 |

    Called and asked them to match rates offered through save better for a 15 year client since directly offered rates are no longer competitive. Received nasty response. My only regret now is that I need to c... More Reviews

48-Month Rates

60-Month Rates

  • 4.63% Credit Union with nearby branch - View
    5-year term - $500
  • 4.55% Online Rate
    5 Year CD - $10,000

    Early Withdrawal Penalty is 730 days interest.

  • 4.51% Bank with nearby branch - View
    60 Month Online CD - $500
  • 4.50% Online Rate
    5-Year CD - $500

    | January 8, 2023 |

    I live in the Baltimore area. CFG is a local Maryland-only bank. It has been heavily covered in local media that they are the leading Maryland bankers for the cannabis industry here. Some will view that p... More Reviews

  • 4.50% Online Rate
    5-Year CD - $1,500

    Early withdrawal penalty is 365 days interest.

    | December 17, 2022 |

    Some serious amateur hour here. I have a small savings account that is connected to numerous external accounts. I thought I would throw a little into a 5-year CD because it is the top rate on this site, ... More Reviews

  • 4.39% Online Rate
    5-Year CD - $1,000

    Early Withdrawal Penalty is 360 days interest.

  • 4.35% Online Rate
    5 year CD - $25,000

    | August 1, 2022 |

    Hard to imagine how Ally got to be so bad, but 1 hour to speak with anyone on the phone is just not good business. It however is slightly better than my other bank which is CIT which hangs up on me. More Reviews

  • 4.32% Online Rate
    Online CD - $500
  • 4.30% Online Rate
    60 Month CD - $2,000

    | October 20, 2022 |

    I have been banking with Synchrony for 7 years and am still amazed at how little they know about Banking 101! The eternal hold button works though! Will send letters looking for paperwork that was submitte... More Reviews

  • 4.25% Online Rate
    60 Month CD - $0

    | November 9, 2021 |

    Higher rate but same old bank. Still engages in a process of not crediting deposits for two days after they are drawn. As a result, any transfers initiated after Wednesday will miss earning interest over t... More Reviews

All rates listed above are Annual Percentage Yield (APY).

CERTIFICATE OF DEPOSIT (CD) QUESTIONS AND ANSWERS

What are Certificates of Deposit (CDs)?

CDs, often also called time deposits, are a savings vehicle similar to a savings or money market account, but guaranteeing a fixed rate in return for a consumer’s commitment to keep the money deposited until a specified date (the maturity date). Only in rare circumstances, and with the payment of a penalty, can the money be withdrawn early, and then it is at the bank’s discretion.

What are advantages and disadvantages of certificates of deposit compared to a savings account?

Since the rate is fixed, you avoid the risk of falling savings rates. You take on the risk of rising rates. Rates are above savings rates to compensate you for the risk of rising rates and to provide you with a premium for agreeing to keep your money on deposit until maturity. You should consider the rates above carefully in comparison with the best savings rates that may be available to you. Depending on your view of the direction of rates and the trajectory at which you believe they will rise, you may be more inclined to stick with shorter maturities (1-year) or you may find that that the premium of any CDs over savings rates does not provide adequate compensation.

What are the top current CD rates?

The table above lists best CD rates currently offered for several different maturities (lengths). Rates on longer maturities are ordinarily higher as they provide greater compensation for the risk of rising rates and provide you with a greater premium of depositing your money for a longer time.

Are the funds in certificates of deposit insured?

CDs in FDIC-insured or NCUA-insured institutions are insured so long as you remain within relevant insurance limits, ordinarily to a maximum of $250,000 within an ownership category. If you hold a CD that is accruing interest during the course of CD, you may wish to consider depositing no more than such amount that will, when combined with any other accounts you have at the bank or credit union, exceed $250,000 at maturity.

What is a reasonable Early Withdrawal Fee?

An Early Withdrawal Fee (also called an Early Termination Fee) is the fee charged by a bank for early termination of a CD (termination before maturity). This fee is ordinarily expressed by the bank in terms of months of interest, rather than as a flat fee, and if the CD is cancelled before that period has passed may reduce principal. A reasonable fee for early withdrawal from a CD (early termination of a CD) is said to make the CD more liquid. Rates & Info believes that a reasonable early withdrawal fee for a CD of less than one year is 3 months’ interest and a reasonable early withdrawal fee for a CD of 18 months to 5 years is 6 months’ interest. In a rising interest rate environment or one where you require liquidity, you should avoid CDs with more onerous Early Withdrawal Fees. Under any circumstance, you may wish to also favor No Penalty CDs. You may wish to read this important article in a competing website which indicates that banks may retain the right not to allow early termination even with payment of this fee.

Should I invest in CDs?

Your own risk tolerance level and personal situation determines your allocation to cash versus risk assets. Cash can be apportioned between savings accounts and CDs. However, if you feel interest rates will rise quickly, you should keep all of your cash in high-interest savings accounts.


The graph above shows how the average rates for CD accounts have trended over the last several years.


The graph above shows the difference in rate between average 5-year CD rates and average 1-year CD rates.

Compare Savings and CDs

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